Jun, 30, 2021 — TANDEM FEDERAL CREDIT UNION is a federal credit union headquartered in Warren, MI with 1 branch location and about $26.43 million in total assets. Opened 80 years ago in 1941, TANDEM FEDERAL CREDIT UNION has about 2,692 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TANDEM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 21043 Mound Rd Warren, MI 48091-2903 |
| Phone: | (586) 759-5050 |
| Fax: | (586) 759-5053 |
| Website: | http://www.tandemfcu.com |
| Branches: | 1 branch locations |
| Members: | 2,692 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4787 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,434,649 |
| CEO/Manager: | Deirdre Taylor |
| Chairperson: | Patricia Swann-Brown |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,659,528 |
| TOTAL INVESTMENTS | 16,026,320 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,993,127 |
| Unsecured Loans | 1,730,122 |
| Other Loans | 4,126,067 |
| TOTAL LOANS | 7,849,316 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -77,505 |
| Land And Building | 264,714 |
| Other Fixed Assets | 122,432 |
| NCUSIF Deposit | 201,581 |
| All Other Assets | 388,263 |
| TOTAL ASSETS | 26,434,649 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,747 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 17,962 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,411,927 |
| Regular shares | 18,247,143 |
| All Other Shares & Deposits | 1,505,359 |
| TOTAL SHARES & DEPOSITS | 22,164,429 |
| TOTAL LIABILITIES | 22,184,138 |
| Regular Reserve | 1,896,385 |
| Other Reserves | 167,399 |
| Undivided Earnings | 2,186,727 |
| TOTAL EQUITY | 4,250,511 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,434,649 |
| INCOME & EXPENSE | |
| Loan Income | 253,744 |
| Investment Income | 105,733 |
| Other Income | 99,467 |
| Total Employee Compensation & Benefits | 198,063 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 299,298 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,846 |
| Cost of Funds | 15,864 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -10,910 |
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